On June 2nd, Hong Kong stocks have strengthened for the third consecutive trading day. In terms of ETFs, the China Merchants CSI HK Connect Information Technology Composite ETF (526050) rose over 2% as of the time of publication. Among the constituent stocks, Jushuitan rose over 12%, Legend Holdings rose over 10%, Lenovo Group rose over 4% to create a historical high, Kingsoft Cloud and AAC Technologies rose over 6%, Kingdee International rose over 4%, and several stocks including Meitu, BYD Electronics, and Lens Technology led the gains.
The supply and demand for storage chips is tightening, and niche storage is welcoming new opportunities in AI.
In terms of news, the first Micro Storage Forum was held in Zhangjiang, Shanghai. Attendees believe that from 2025 to 2027, the supply-demand ratio will be in a state of shortage overall, and the trend of rising prices for storage chips is expected to continue, with 2027 possibly becoming a turning point for observing price trends. The growth of AI computing power is accelerating the shift from cloud training to edge inference, which may bring new opportunities for niche storage (including small-capacity DDR3/DDR4, NOR Flash, SLC NAND, EEPROM, etc.) that have advantages in low power consumption and fast response. Coupled with international giants like Samsung and SK Hynix shifting their production capacity to high-margin products like HBM (High Bandwidth Memory), related domestic chip companies are expected to welcome new growth.
The industrial chain is transmitted to the upstream PCB, and the domestic substitution of photosensitive dry film is accelerating.
The benefits of the AI hardware industrial chain extend beyond storage chips. As a key material for PCB manufacturing, photosensitive dry film is also expected to see continued demand growth driven by the prosperity of downstream sectors, further boosting high-end dry film demand in fields such as AI. Huatai Securities pointed out that the current domestic substitution rate of photosensitive dry film is still relatively low. With domestic companies accelerating technological breakthroughs and capacity expansion in high-end fields, along with policy support, the domestic substitution rate is expected to increase, and leading companies in the industry will benefit first.
Data shows that the China Merchants CSI HK Connect Information Technology Composite ETF (526050) is a rare representative of &#34;pure hard technology&#34; in the Hong Kong stock market. The ETF tracks the CSI HK Connect Information Technology Composite Index, which has a higher concentration in the AI industrial chain compared to the Hang Seng Technology Index, focusing on three major areas: &#34;semiconductors + electronics + computer software,&#34; with the storage concept accounting for 26%, and excluding internet companies, making its hard technology attributes more pure.
From a historical performance perspective, according to Wind data, as of May 31, 2026, the CSI HK Connect Information Technology Composite Index has accumulated a rise of over 123% in the past three years, significantly outperforming the same period's National Index HK Connect Technology Index (40%), Hang Seng Technology Index (32%), and HK Connect Internet Index (7%), demonstrating higher elasticity. Under the resonance of multiple medium to long-term logic, including the continuous promotion of domestic substitution, accelerated implementation of terminal intelligence, and tight supply and demand for AI hardware, investors may consider the China Merchants CSI HK Connect Information Technology Composite ETF (526050) as a way to invest in Hong Kong's AI hard technology

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03396

526050

On June 2nd, the Hong Kong stock market continued to strengthen, with the Hong Kong Stock Connect Information Technology ETF (526050) rising over 2%. Holdings such as Legend Holdings and LENOVO GROUP surged and reached historical highs. Driven by the tightening supply and demand for memory chips and the demand for AI edge inference, niche memory is facing opportunities; the domestic substitution of photosensitive dry film is accelerating. This ETF focuses on hard technology, excluding internet companies, and emphasizes investments in the semiconductor, electronics, and computer software sectors

同壁财经

LENOVO GROUP

LEGENDHOLDING

China Merchants CSI HK Connect Information Technology Composite ETF

JST GROUP

Kingsoft Cloud

KINGSOFT CLOUD

AAC TECH

KINGDEE INT'L

MEITU

BYD ELECTRONIC

Lens

Samsung Electronics 

HTSC

Hang Seng TECH Index

LENOVO GROUP-R

Lenovo Group

Samsung Electronics Co., Ltd. Sponsored GDR

Huatai Securities Co., Ltd. GDR Class A RegS

Legend Holdings and LENOVO GROUP set new historical highs, the AI hardware industry chain continues to strengthen, and the Hong Kong Stock Connect Information Technology ETF (526050) surged over 2%